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Sony to debut newest studio at E3 2014.REUTERS/Toru Hanai

A new Sony studio is all geared up to reveal its projects during the upcoming annual gaming event E3 2014, held at Los Angeles, California.

The employees of the new studio are students of Carnegie Mellon, who had worked with Sony on a coursework where they made prototype games for PlayStation Vita, reported The New York Times.

"Historically, I've always been aware of these programs. It's only in recent years that they've become meaningful," said Alex Lee, executive producer, Sony Computer Entertainment America.

The PlayStation E3 2014 press conference will take place on 9 June at 6pm PT with the announcement on PlayStation 4 video games and gameplay premier of Destiny from developer Bungie.

More Red Dead, BioShock Games Will be made: Take-Two

Take-Two has indicated that the company has its plans set to release more games in the 'Red Dead' and 'BioShock' series.

Strauss Zelnick, CEO of Take-Two, has confirmed that his company will develop more games in the popular Red Dead and BioShock franchises. But he insisted that it is developing games that are of quality rather than quantity that is important the company.

"The risk of just [releasing more games] is that you end up just bulking up your release schedule and that isn't really what consumers want. Consumers want better, not more," Zelnick said, reported CVG.

Rockstar Games, a wholly owned subsidiary of Take-Two, has been rolling out the highly popular and successful franchise Grand Theft Auto. Their most recent release GTA 5 made history with its sales.

"It's obvious that GTA is a permanent franchise as long as we keep delivering this incredible quality; it seems quite obvious that Red Dead is a permanent franchise, again with the same caveat, or Borderlands, for example, and NBA and others," Zelnick said.

"But not everything is going to be a permanent franchise. We can do very well even if it's not. I would like to see us grow with a couple more great franchises in the next couple years and we're launching Evolve; we have very high hopes for that," he added.